Hard to tell if this is good news or bad. If the "ceiling" won't be reached due to a planned slowdown in the rate of leading Treasury General Account withdrawals, then we could be in trouble. Story at CNBC.
Some excerpts that indicate a basic mathematical irrationality, or lack of basic mathematical cognitive skills that continue to plague western policymakers and renders these people truly unqualified for the positions they occupy:
Lew added that Europe needed to do "a little bit better" in stimulating demand and creating economic growth, stressing the region should balance austerity measures with efforts to boost growth.
We feel strongly that there needs to be the right balance between austerity and growth.
We're not arguing whether we need to get our fiscal house in order, we all need to do that, the question is when and how."
Earth to Lew: Austerity works against growth and employment, and fiscal policy is not analogous to "a house".
1 comment:
I really thought he was come right out and claim that "national debt" won't be solved until labor rolls over and accepts defeat.
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